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Ball to acquire Aerocan SAS
Ball Corporation has signed a definitive agreement with Barclays Private Equity to acquire Aerocan SAS for approximately €221m inclusive of debt and other liabilities.
The acquisition is expected to close during the first quarter of 2011, subject to customary closing conditions. The company expects the after-tax returns from the acquired business to exceed Ball’s return requirements.
Aerocan manufactures aluminium aerosol cans and bottles, and aluminium slugs used to make them, for customers in the personal care, pharmaceutical, beverage and food industries. It operates three aerosol can manufacturing plants in the Czech Republic, France and the UK, and is a 51% owner of a joint venture aluminium slug plant in Beaurepaire, France.
Source: Ball Packaging Europe
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